Taxpayers lives in Augusta, Georgia, in a single family home. Taxpayers take a vacation for spring break in April and rent their house out for the week of the Augusta National tournament. They received a total of $21,000 of rental income for the week. Taxpayers do not rent their house out at any other point during the year. What are the tax consequences?

Answer rating: 100% (QA)

The rental income of 21000 needs to be reported on the taxpa... View the full answer